TOP Tories who signed away a town centre site for £1million up front “should be ashamed of themselves,” a Park Street trader has said.

Ray Usher, from Allsorts, believed the seven-acre site of Upper Charles Street and St Mary’s Road was a valuable asset for the borough.

Mr Usher said he had seen Tuesday night’s decision to sign the papers had been “inevitable” and he vowed to study the plans for the shopping and retail complex thoroughly.

Ink is drying on Surrey Heath Council documents as the executive committee agreed to sign the papers for the financial and legal terms for the Park Street complex.

The signatures mean the developers Crest Nicholson will give the council an up front payment of £1million for the town centre site.

Recommendations on the confidential agenda papers were agreed behind closed doors at Tuesday night’s meeting because of the commercial and financial sensitivity of the information.

It is expected that a planning application for the shopping and leisure centre could be submitted in early June.

One source has claimed the developer was able to take advantage of the council’s position as developing the new centre has been declared the number one corporate goal by SHBC.

“What Crest Nicholson has done is to exploit the council’s weakness because the developer understands that the council does not want to lose a third developer, which is how it would appear.”

The source believed the council should have “gone to the wire” to make sure a better financial package was achieved.

It has been reported previously in the News and the Mail that, as well as the £1million payment, the developer has negotiated a cap will be put on its contributions to highway improvements for the scheme.

This could mean Surrey Heath may be left to pick up the tab for any shortfall incurred for the road changes around the town centre.

But the council would still receive some rent for the site because it would act as landlord as SHBC has retained ownership of the site.

Speaking after the confidential meeting on Tuesday, Mr Usher said the site had been “undersold” and said the two car parks made profit for the council.

“The people who accepted £1million for them should be ashamed of themselves, especially when they were shouting not so long ago how valuable the place was.

“It was just inevitable was going to happen and I will just wait and see the next load of plans and how they will be received by the public.”

Plans for the multi-million pound shopping and leisure complex could be submitted in early June and Surrey Heath Council has proposed an extensive, borough-wide consultation process.

Councillors and officers want the public to respond with their comments on the scheme and will be shown exhibitions, displays and other information relating to the complex.

The consultation period is likely to take most of the summer with and a decision could be made in the autumn.

All 40 councillors will make the decision because of the size and impact of the development will have on the town.

Surrey Heath Council has stated it would like to see a cinema, houses, a bowling alley, more shops, restaurants and a health and fitness suite incorporated into the complex.